Now this is a tax increase!! IRS may reduce 401K contribution limits for 2010!!!

[w¡n9Nµ7 §£@¥€r 123]

Next year, Americans may not be allowed to stash as many dollars in their company 401(k)s.

...

Contribution limits for these plans, like many provisions of the tax code, are adjusted annually for inflation.

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For 2010, [the] $16,500 limit could fall to $16,000, benefits consulting firm Mercer LLC warned today.

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When it comes to private pension and retirement savings plans, there's no prohibition against giving contribution limits a deflationary haircut. It isn't clear whether the Internal Revenue Service will in fact lower 401(k) contribution limits, says Mercer consultant Bill McClain. "The law is gray,'' he says.

http://www.forbes.com/2009/08/24/irs-401k-...ion-limits.html

[scandal 951]

How many Americans do you think actually contribute anywhere near the maximum allowable 401(k) amount each year?

[w¡n9Nµ7 §£@¥€r 123]

How many Americans do you think actually contribute anywhere near the maximum allowable 401(k) amount each year?

Many I know who make less than the 250k a year below which we were promised no new taxes.

[Ban Hammer 13,352]

How many Americans do you think actually contribute anywhere near the maximum allowable 401(k) amount each year?

Many I know who make less than the 250k a year below which we were promised no new taxes.

good to see the koolaid is wearing off.

[w¡n9Nµ7 §£@¥€r 123]

How many Americans do you think actually contribute anywhere near the maximum allowable 401(k) amount each year?

Many I know who make less than the 250k a year below which we were promised no new taxes.

good to see the koolaid is wearing off.

Uh, no. I never bought into the BS argument that increasing taxes on your cigs was a violation of the campaign pledge. This, however, would be.

[Craneman 2]

How many Americans do you think actually contribute anywhere near the maximum allowable 401(k) amount each year?

I do and most of my coworkers.

[Trumplestiltskin 5,791]

Hmmm my company just announced they were suspending the company matching on the 401K. Wallet's getting lighter every day - and we don't make $250K.